Finance Videos

Wanted: Europe’s most dangerous financial product

Mar. 15 - What is Europe’s most dangerous financial product? Green MEP Sven Giegold has been holding a competition to find out. We ask him which productt won, and what happens now.

TRANSCRIPT +

My meanness -- people -- green coordinates on the economic and monetary affairs committee of the European Parliament. And I thought that this competition because of parliament gave. Good new European financial supervisors from right to intervene against dangerous products but actually they never did. And that's all I thought citizens might know better but I think there was products off and we wanted to suggest that it has to -- supervised. But I think that to win that's first it's -- fun seeing -- speculation it's -- video of this. People really annoyed about these sort of products which might drive up prices of food stuff. And put people into misery and hunger. And the second one is CDS. So credit default swaps on the emerging market government bonds. Pat -- in Europe for the member states naked as CDS today is forbidden. It has not been forbidden for developing countries and that says that -- That's appear in equality of treatment of the product. But I will I will take the witness and to go to Paris -- -- to the European. And market authority and -- to discuss what's about to do about the products and we will also discuss the other products which was picked by the jury. So I hope that financial supervisors will then take action.

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